Jim O'Neill, a former chairman of Goldman Sachs Asset Management and former Commercial Secretary to the UK Treasury, is Honorary Professor of Economics at Manchester University and Chairman of the Review on Antimicrobial Resistance.

Comments

My brief calculation says 2500 x 40 billion = 100 trillion or a 250000% return. It is likely inaccurate yet still useful.Unimaginable, I have trouble to count the zeros.The famous Berkshire Hathaway performed equally from 1964 to 2003 over 39 years with 259000%. (See 2003 shareholder letter)Mr. Buffett might be interested, especially, as there is use for billions, the realm of numbers he ponders regularly. Read more

In their euphoria with higher efficiencies in The Private Sector, The Thatcher Reagan legacy relegated The Public Sector.Fundamentally opposite was the approach implicitly underscored in Lord Keynes remedies - where State Interventions were supreme.State sponsorship of Public Goods and Services was explicitly underscored by both The Sangha and The Church - in Asia and Europe.Times have changed and the scope of Public Infrastructure Assets are now substantially enlarged - beyond Schools + Hospitals.Transportation Telecommunications Power Energy Aeronautics Technology Defense Research Urbanization Utilities.China's faith in The Sangha can be seen in The State and its role in Public Infrastructure Assets.Fiscal Activism has underscored The Mandarins in their pursuit of MegaCities Megalomania - in building China.America and Britain perhaps lost their ways - in the euphoria over efficiencies in The Private Sector.There are numerous challenges beyond the domain of The Private Sector.The Author appropriately has chosen to remind that Public Infrastructure Assets must reclaim primacy.The World Economic architecture will be better - if State Interventions reclaim the higher ground.Asset Prices are the result not the roots - what needs nurturing is Public Infrastructure Assets. Read more

By not demanding the right kind of growth and simply throwing money at problems we have delayed and are adding to a much larger crisis lurking in the future. Many of those already concerned about the strength of the economy and they will find little comfort in recent remarks made by Oliver Blanchard

Worries exist as to just how much ammunition remains in the arsenals of the central banks. I find very troubling the argument that conditions remain too fragile to begin a return to historic norms. Also, questions remain as to whether the world can handle additional government debt when rates begin to rise. More on this subject in the article below.

http://brucewilds.blogspot.com/2016/11/interest-rate-hike-if-not-now-when.html Read more

radio announcer voice: thank you for yet another Jim Reeves "Please invest in AMR" piece brought to you, our listener, courtesy of our sponsors, Big Pharma. Tune in next week for "How AMR can bring peace in the Middle East". Read more

In essence it seems that the only hope left for the heavily indebted developed world is money from the World Bank. The centre of economic gravity has moved east it is often reported. All the tricks to keep our heads above water have been used. Breaking all the financial rules: resulting in the 2008 international financial crisis; central bankers and auditors - guardians of finance - have had their independence withdrawn. Jim O'Neill despairs of national policymakers and national electorates: "The US and the UK both need to show that they can move beyond their highly sensitive – and, frankly, narrow-minded – domestic political issues." At least we read more and more that national democracy is on the way out, especially in finance; it is losing the fight with global capitalism. This leaves us with the priorities of the UN's World Bank - not to be dismissed.Read more

It doesn't matter who wins the election in the US. Congress is completely and utterly gridlocked and that won't change. Which translates into a congress almost unable to agree on routine business much less anything else. If they refuse to even consider a supreme court justice while a democrat is office, do you really think they will agree to something that might faintly help a single democratic voter? Read more

PS On Air: The Super Germ Threat

NOV 2, 2016

In the latest edition of PS On
Air
, Jim O’Neill discusses how to beat antimicrobial resistance, which
threatens millions of lives, with Gavekal Dragonomics’ Anatole Kaletsky
and Leonardo Maisano of
Il Sole 24 Ore.

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